Checkmate: AI Startup CloudSight struck by Bitcoin [BTC] Lightning

2018-06-24

CloudSight is an AI startup that announced their support in favor of the Bitcoin Lightning Network on their platform. The tech company tweeted that they have taken this step in order to promote free communication of AI systems for better learning.

CloudSight’s tweet | Source: Twitter

Brad Folkens, the CEO of CloudSight said that the inception of new payment methods over the traditional ones is prominent to the growing economy of information and data industry; to better handle the future of AI communications.

The company leader also added:

“At CloudSight, we found that Bitcoin payments (BTC), via the Lightning network, offer the perfect pairing for a unique utility with our visual cognition neural networks. We are very excited for the future of autonomous AI, and we believe this is a critical step in the development of this new technology.”

CloudSight will function in an autonomous manner where it will incentivize parties to engage in trustless transactions within a decentralized space. This will aid efficiency in acquiring information for them to learn in real-time by transacting with other humans, service providers, and AI entities. The startup cited an example of self-driving cars and explained:

“Imagine, your self-driving car needs to know what an unknown object is in the road ahead. This autonomous AI network will allow it to ask surrounding cars or reach out to a data provider. Once the car gathers the information, it could then be compensated for that fee by other cars asking the same question.”

Lightning Network technology was developed to solve the problem of malleability in Bitcoin transactions. It is an off-chain transaction network that is capable of stretching Bitcoin’s scalability to over a billion transactions every day. It establishes a bilateral relationship between the two parties and the transaction is cheaper, faster and confidential.